CEO of Bakkt lays out the company's key objectives

19 Sep, 2018
by David Robb
News
CEO of Bakkt lays out the company's key objectives

The CEO of Bakkt, the new crypto firm to be launched by the founders of the NYSE, recently published a blog post about the company's goals. Kelly Loeffler outlined three key objectives that she hopes to meet.

Bakkt is intending to create a new global ecosystem for digital assets, one that is secure and properly regulated. Loeffler said that the company's goal is "to make digital assets more liquid, trusted and accessible; allowing meaningful innovation to follow".

She went on to describe the ways that Bakkt's approach will be different from the many other businesses hoping to transform the crypto space. The three key objectives were to introduce an entirely new product, as well as new security standards and new levels of information access.

In terms of financial security, Loeffler claims that "the purchases and sales of Bitcoin in our futures market will be pre-funded, which virtually eliminates the risk of default". The design of Bakkt's warehouse "will incorporate high levels of physical, technology and information security. Safeguarding digital assets is an emerging area of expertise, and things like signing ceremonies, biometric scans, sharding and multi-sig are the new virtual combinations on the vault."

Addressing the current price volatility and "flawed state of the market", Loeffler reassures potential clients that "markets generally evolve toward a model that instills confidence in forming prices, establishing value and facilitating commerce. This is the foundation on which we designed Bakkt."

Read more: The Intercontinental Exchange project, Bakkt, subject to controversy

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